The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M CO COM 88579Y101 2,673 14,971 SH   SOLE   971 0 14,000
ALLIED HEALTHCARE PRODS INC COM NEW 019222207 343 171,822 SH   SOLE   171,822 0 0
AMREP CORP NEW COM 032159105 363 49,032 SH   SOLE   49,032 0 0
BANCORP 34 INC COM 05970V106 331 26,300 SH   SOLE   26,300 0 0
BENEFICIAL BANCORP INC COM 08171T102 3,848 209,164 SH   SOLE   209,164 0 0
BRT RLTY TR SH BEN INT NEW 055645303 1,533 187,192 SH   SOLE   187,192 0 0
CENTRAL FD CDA LTD CL A 153501101 1,699 148,950 SH   SOLE   20,680 0 128,270
CISCO SYS INC COM 17275R102 7,016 232,173 SH   SOLE   57,090 0 175,083
COMMERCE UN BANCSHARES INC COM 200828101 2,225 103,474 SH   SOLE   103,474 0 0
CORNING INC COM 219350105 8,385 345,492 SH   SOLE   98,445 0 247,047
DORIAN LPG LTD SHS USD Y2106R110 10,933 1,331,726 SH   SOLE   660,097 0 671,629
EAGLE BANCORP MONT INC COM 26942G100 2,368 112,250 SH   SOLE   112,250 0 0
ENGLOBAL CORP COM 293306106 2,274 951,627 SH   SOLE   951,627 0 0
ENTEGRA FINL CORP COM 29363J108 1,441 69,953 SH   SOLE   69,953 0 0
ESSA BANCORP INC COM 29667D104 1,880 119,600 SH   SOLE   119,600 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,633 104,706 SH   SOLE   104,706 0 0
FRIEDMAN INDS INC COM 358435105 1,011 151,802 SH   SOLE   151,802 0 0
FRP HLDGS INC COM 30292L107 898 23,822 SH   SOLE   23,822 0 0
FSB BANCORP INC COM 30289C102 471 33,195 SH   SOLE   33,195 0 0
GEORGETOWN BANCORP INC MD COM 372591107 932 36,068 SH   SOLE   36,068 0 0
GRAHAM CORP COM 384556106 598 27,016 SH   SOLE   27,016 0 0
HARDINGE INC COM 412324303 916 82,700 SH   SOLE   82,700 0 0
HELMERICH & PAYNE INC COM 423452101 7,476 96,595 SH   SOLE   28,803 0 67,792
HOME FED BANCORP INC LA NEW COM 43708L108 1,597 59,465 SH   SOLE   59,465 0 0
HOMETRUST BANCSHARES INC COM 437872104 7,896 304,900 SH   SOLE   162,270 0 142,630
HOPFED BANCORP INC COM 439734104 2,004 148,888 SH   SOLE   148,888 0 0
HURCO COMPANIES INC COM 447324104 1,569 47,412 SH   SOLE   47,412 0 0
IF BANCORP INC COM 44951J105 1,286 69,519 SH   SOLE   69,519 0 0
MALVERN BANCORP INC COM 561409103 2,071 97,926 SH   SOLE   97,926 0 0
MCEWEN MNG INC COM 58039P107 1,669 573,700 SH   SOLE   538,500 0 35,200
PATHFINDER BANCORP INC MD COM 70319R109 830 61,550 SH   SOLE   61,550 0 0
SEACOR HOLDINGS INC COM 811904101 12,164 170,656 SH   SOLE   43,745 0 126,911
SI FINL GROUP INC MD COM 78425V104 1,638 106,392 SH   SOLE   106,392 0 0
SOUND FINL BANCORP INC COM 83607A100 2,052 73,318 SH   SOLE   73,318 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 13,423 122,470 SH   SOLE   90,436 0 32,034
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 1,648 78,820 SH   SOLE   31,630 0 47,190
WESTPORT FUEL SYSTEMS INC COM NEW 960908309 16 15,000 SH   SOLE   15,000 0 0
WILLBROS GROUP INC DEL COM 969203108 48 15,000 SH   SOLE   15,000 0 0